Eurozone Q1 GDP Rises 0.5%, In Line With Forecasts

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Includes: ADRU, DBEU, DBEZ, DEZU, EEA, EPV, EURL, EZU, FEEU, FEP, FEU, FEUZ, FEZ, FIEE, FIEU, GSEU, HEDJ, HEZU, HFEZ, HFXE, HGEU, IEUR, IEV, PTEU, RFEU, UPV, VGK
by: Investing.com

Gross domestic product (GDP) in the eurozone rose as expected in the first quarter, according to preliminary official data released on Wednesday.

In a report, Eurostat said GDP rose a seasonally adjusted 0.5%, matching growth registered in the preceding quarter and in line with the consensus forecast.

Year on year, GDP in the single currency bloc rose 1.7% in the first quarter, matching the consensus estimate and compared to an expansion of 1.8% in the final three months of 2016.

After the release of the GDP data, EUR/USD traded at 1.0911, compared to 1.0913 ahead of the report, while EUR/GBP was at 0.8445 from 0.8444 earlier.

Meanwhile, European stock markets were trading lower. The Euro Stoxx 50 dropped 0.14%, Germany's DAX fell 0.20%, France's CAC 40 lost 0.28%, while London's FTSE 100 traded down 0.31%.

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